Anyone want to join me? Awaiting Mortgage decision...

oskarr

@ Arina

We are currently waiting for offer from Halifax too. Full application submitted on 19th August and so far all they have asked to see is my last 3 payslips and my partners last 1 payslip and statements showing the money going into our accounts.

The fees for the valuation/survey was taken immediately. It seems a strange way of doing it to me, if they are going to do further credit checks further down the line as I understand it is non-refundable.

Countrywide appear to be doing our survey and emailed me on 23rd August for details etc, but not heard anything since.

My broker says on average they have a 22 day lead time from appplication to offer for Halifax, so fingers crossed we might hear back in the next week or so.

Arina

oskarr wrote: »

@ Arina

We are currently waiting for offer from Halifax too. Full application submitted on 19th August and so far all they have asked to see is my last 3 payslips and my partners last 1 payslip and statements showing the money going into our accounts.

The fees for the valuation/survey was taken immediately. It seems a strange way of doing it to me, if they are going to do further credit checks further down the line as I understand it is non-refundable.

Countrywide appear to be doing our survey and emailed me on 23rd August for details etc, but not heard anything since.

My broker says on average they have a 22 day lead time from appplication to offer for Halifax, so fingers crossed we might hear back in the next week or so.

Thanks for that. I have read mixed stories on here that halifax only take valuation money when they have passed the credit check as it doesn't let them get to the payment page if credit checks do not pass. I don't know.. I hate waiting!

Hope you hear something soon! Keep us posted with how you get on xx

sidhaarthm

Arina wrote: »

Thanks for that. I have read mixed stories on here that halifax only take valuation money when they have passed the credit check as it doesn't let them get to the payment page if credit checks do not pass. I don't know.. I hate waiting!

Hope you hear something soon! Keep us posted with how you get on xx

Hey Arina,

I have received my formal offer through Halifax a while back now and would like to share my experience.
I can confirm that the valuation fee was taken on the spot (I went for homebuyers which was £665) AFTER I cleared the credit check (my appointment was made in person). If you have made your appointment over the phone/post then I guess it is safe to assume that the valuation is only made AFTER you clear the credit check and pass the lender's criteria.

A week or so after (it was month end) - I also noticed the credit searches reflect on my file.

Good luck! x

Mortgage_Mark_2

Halifax always take card details for valuation payment on application, and prior to any underwriting except a basic DIP.

Don't be misled into thinking that because they've taken the fee, they've agreed your mortgage except the valuation, that simply isn't true.

Arina

Thanks for your replies. It has made it clearer for me.

Arina

My updated timeline:

Received DIP with halifax: 16th August 2014
Offer accepted on property: 18th August 2014
Full application submitted: 26th August 2014
Valuation funds taken from account: 28th August 2014
2 searches showing up on my experian report (RBS - MORTGAGE QUOTATION): 29th August 2014

Just updating this for anyone following this or is in a similar position x

tr54vrs

Hello

We are going throught the application stage and are nervous as hell!

We chose to use RGM for our solicitor and mortgage broker. They advised us that Nationwide would be the best choice.

10/07 - DIP from broker
missed out on 2 houses before
14/08 - Offer accepted on house
14/08 - Full application submitted to Nationwide
27/08 - solicitor received all missives and house documents
29/08 - Valuation booked for our mortgage application


Now I'm not an expert but I think things are slightly different in Scotland to England when it comes to surveys and valuations.

The seller had a refreshed home report, including a valuation, completed on 15/08.
Broker advised us that Nationwide expected the valuation to arrive from the surveyor on 26/08

If they received the valuation on tuesday, why have I had a text saying a valuation had been booked today?? Confused.

I had really hoped to have the offer in the next few days as we have an entry date on the property of 12/09... Cutting it close I know.


Mortgage requested is around 2.5 times our joint salary, with 10% deposit. Praying its all a formality

bexs2247

So virgin received my application form and their underwriters have queried the fact I have a mortgage in the background. They have said that as we are wanting to borrow over 85% it is classed as help to buy and we can't have interest in any other property.

As part of the application pack we completed a help to buy form
Which stated we are selling out house and buying a new one so we will only have interest in the one property once all completed.

I explained this to the guy on the phone and he said he would tell the underwriters and let me know if they have any other queries.

Has anyone had any experience of this?

I am worried now

biggysnax

We'll here is our experience so far...

13/08 - Declined AIP with HSBC
18/08 - Engaged broker due to credit history
22/08 - AIP accepted by Halifax
27/08 - Full application submitted, Halifax asked for latest months pay slip and confirmation on Child Benefit.

Now awaiting there response, fingers crossed!!

bexs2247

Also, I just noticed that the product we chose when we applied is no longer available, the equivalent product actually has a lower interest rate. Will they automatically give us the product with the lower rate or the one that was on there when we applied? It's £25 a month cheaper now!